The alliance between BNP Paribas Leasing Solutions and 3 Step IT confirms the ambition of both organisations to become a leader in the field of finance and product as a service solutions for technology equipment in Europe. They also plan to take a lead in promoting the circular economy with services that help maintain equipment in use, and recondition returned equipment for resale to extend its life.
The partners will combine their expertise to provide organisations with a complete management service for their technology equipment:
- understand customer needs
- tracking and monitoring (what is installed, where it is, who pays, how much, etc.)
- data destruction, refurbishing and resale of returned equipment
Equipment will typically include: computers, smartphones, printers, etc. This comprehensive service will also be available to manufacturers and distributors to meet their customers’ needs and expectations.
The partners plan a joint venture company to offer this service by the end of 2019. The joint venture company, named BNP Paribas 3 Step IT, will be 51% owned by BNP Paribas Leasing Solutions and 49% by 3 Step IT. With a head office in France, it will also operate in the United Kingdom, Italy, Germany, Belgium and the Netherlands. In 2020, the new company plans to extend its services to Poland, Spain, Portugal, Austria and Switzerland, to complete the European network.
Beyond the joint venture territory the “BNP Paribas 3 Step IT” alliance will provide similar services to its international clients through a commercial partnership, mainly in the Nordic and Baltic countries. 3 Step IT operations in Asia are not included in the partnership and will continue to run as they do today.
This Alliance will be finalized by the end of the first half of 2019, subject to the agreement of the various regulatory authorities.
“With this announcement, BNP Paribas Leasing Solutions complements both its European network, particularly in the Nordic and Baltic countries, and accelerates its commitment to the circular economy. 3 Step IT is the ideal partner to develop an offer that promotes the recycling and resale of technology equipment made available to our customers and partners. This transaction aligns perfectly with the BNP Paribas group’s strategy and its 2020 commitment plan, which includes the circular economy,” said Charlotte Dennery, CEO of BNP Paribas Leasing Solutions.
“The 3 Step IT team is very excited to partner with Europe’s leading professional equipment finance company. Our company was built around sustainability. Now, together with BNP Paribas Leasing Solutions, we can make the circular economy a reality and develop more sustainable leasing for technology assets across Europe. This will benefit our clients and build an ever more successful business relationship,” says Carmen Ene, CEO of 3 Step IT.
*European countries covered by the Alliance:
Joint-venture: Austria, Belgium, France, Germany, Italy, Poland, Portugal, Spain, Switzerland, the Netherlands and the United Kingdom.
Partnership beyond the JV: Denmark, Estonia, Finland, Latvia, Lithuania, Luxembourg, Norway, Romania, Sweden.